The past year has led many companies to allow employees work from home.
If you are downsizing your home while working from home, creating an office space can require careful consideration.
Consider Your Lifestyle
You have considered how having a home office can impact your career, family, and recreational goals. When you create a home office it can add expenses and take the space of another potential room.
Personalize Your Plan
Personalizing your plan will ensure that your new home office is covered by your home insurance policy – this includes personal possessions, liabilities, injuries, damage, and repairs.
How Can Downsizing Your Home Impact Your Insurance?
Having a home office demands that you add additional square footage to your insurance policy.
It is also important for you to know that your home insurance policy may not fully cover your office at home. Most likely you will need to purchase an additional insurance policy if you choose to work at home. If you are an employer, you may require additional insurance coverage for each of your remote employees.
Downsizing Will Save You Money
Taking a home inventory every time you are adding or eliminating things in your home will reduce your insurance bill.
As you start downsizing your home you will eliminate the items you no longer need. Then you can remove these items from your insurance coverage. This is why it is important to make sure you are doing a home inventory every time you are adding or eliminating things in your home.
The physical location of your home matters because the location of your home affects your insurance premium. Since the insurance premium varies between neighborhoods, it’s best to talk with your insurance agent to get a better understanding of prices.
At Klinger Insurance Group we can help customize your insurance policy to meet your coverage and pricing needs.
It is a great idea to consider asking us about any available home insurance discounts and bundles.